Brazil's Big Plan to Help Countries Fight Climate Change

Brazil is stepping up to help poorer nations deal with climate change.

The Need for Climate Adaptation Funding

• Current Situation:
• Insufficient funds are allocated to help poorer nations prepare for extreme weather.
• The United Nations estimates that $310 billion annually is needed by 2035.
• Only $26 billion was spent in 2023.

Brazil's Initiative

• COP30 Summit:
• Date: November 10 to 21
• Location: Belem
• Goal: Create a funding package to support climate adaptation.
• Key Figure: Andre Correa do Lago, Brazil's COP30 summit president.

Focus on Real Actions and Funding

• Correa do Lago's Vision:
• Emphasizes real actions and money over mere discussions.
• Aims to show that progress is still being made despite concerns about losing momentum.

Urgency Highlighted by Recent Events

• Hurricane Impact:
• A powerful hurricane hit Jamaica, causing significant damage.
• Warmer ocean temperatures are making hurricanes more intense.
• Adaptation measures are crucial to prepare for such events.

Brazil and Azerbaijan's Plan

• Goal: Increase climate finance to $1.3 trillion annually.
• Sources of Funding:
• Private investors
• Development banks